Herc (NYSE:HRI) Trading Down 7.8% – Should You Sell?

Shares of Herc Holdings Inc. (NYSE:HRIGet Free Report) dropped 7.8% during trading on Tuesday . The stock traded as low as $210.56 and last traded at $211.29. Approximately 36,889 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 250,562 shares. The stock had previously closed at $229.07.

Analysts Set New Price Targets

HRI has been the subject of several recent research reports. Barclays boosted their target price on shares of Herc from $175.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their target price on shares of Herc from $200.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, The Goldman Sachs Group upped their price objective on shares of Herc from $178.00 to $204.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $212.25.

View Our Latest Stock Analysis on Herc

Herc Trading Down 4.8 %

The business’s fifty day simple moving average is $204.17 and its 200 day simple moving average is $162.55. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 2.89. The stock has a market cap of $6.19 billion, a P/E ratio of 17.28, a price-to-earnings-growth ratio of 1.32 and a beta of 2.02.

Herc (NYSE:HRIGet Free Report) last issued its earnings results on Tuesday, October 22nd. The transportation company reported $4.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.48 by ($0.13). The business had revenue of $965.00 million during the quarter, compared to the consensus estimate of $931.33 million. Herc had a net margin of 10.09% and a return on equity of 26.35%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the business posted $4.00 EPS. As a group, analysts expect that Herc Holdings Inc. will post 13.59 EPS for the current year.

Herc Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 16th will be paid a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Monday, December 16th. Herc’s payout ratio is 21.75%.

Insider Buying and Selling

In other news, SVP Samuel Wade Sheek sold 5,000 shares of Herc stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $213.12, for a total value of $1,065,600.00. Following the sale, the senior vice president now directly owns 21,586 shares in the company, valued at $4,600,408.32. This trade represents a 18.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael A. Kelly sold 3,880 shares of Herc stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $208.83, for a total transaction of $810,260.40. Following the completion of the sale, the director now owns 13,774 shares in the company, valued at $2,876,424.42. This trade represents a 21.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Herc

Several hedge funds and other institutional investors have recently made changes to their positions in HRI. SG Americas Securities LLC grew its stake in shares of Herc by 226.4% in the second quarter. SG Americas Securities LLC now owns 5,643 shares of the transportation company’s stock valued at $752,000 after buying an additional 3,914 shares in the last quarter. Welch Group LLC grew its stake in shares of Herc by 87.1% in the second quarter. Welch Group LLC now owns 6,082 shares of the transportation company’s stock valued at $811,000 after buying an additional 2,832 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Herc by 4.1% in the second quarter. Assenagon Asset Management S.A. now owns 43,049 shares of the transportation company’s stock valued at $5,738,000 after buying an additional 1,709 shares in the last quarter. SummerHaven Investment Management LLC grew its stake in shares of Herc by 2.1% in the second quarter. SummerHaven Investment Management LLC now owns 5,147 shares of the transportation company’s stock valued at $686,000 after buying an additional 108 shares in the last quarter. Finally, Argent Capital Management LLC grew its stake in shares of Herc by 61.4% in the second quarter. Argent Capital Management LLC now owns 4,345 shares of the transportation company’s stock valued at $579,000 after buying an additional 1,653 shares in the last quarter. 93.11% of the stock is owned by institutional investors.

About Herc

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Herc Holdings Inc, together with its subsidiaries, operates as an equipment rental supplier. It rents aerial, earthmoving, material handling, trucks and trailers, air compressors, compaction, and lighting equipment, as well as generators, and safety supplies and expendables; and provides ProSolutions, an industry specific solution based services, such as pumping solutions, power generation, climate control, remediation and restoration, and studio and production equipment.

Further Reading

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